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TOTAL MARKET
<br /> i
<br /> NET ABSORPTION TRENDS
<br /> 4,999,472
<br /> 5,000,000
<br /> iii
<br /> 4,137,046
<br /> 4,000,000
<br /> r,': c,184,164 3,040,491
<br /> w3,000,000 ' ,580,519
<br /> L
<br /> g 2,000,000 1,539,835
<br /> 878 19:
<br /> 1,000,000
<br /> 394,498
<br /> 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
<br /> HISTORICAL VACANCY RATES
<br /> 20%-
<br /> 15°A i
<br /> 0%15%' 13.5%
<br /> • C
<br /> +a 11.8%
<br /> v
<br /> 10%J 8.1
<br /> o ,,,,, 11.6%
<br /> +4 10.8/o
<br /> aJ a)
<br /> 5.4% 8.6% 9 3°
<br /> p" 5°ro5.7/0._.._6.3%
<br /> 0% / l l l l l l l / l l l
<br /> 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
<br /> NEW PROJECTS
<br /> 5,000,000
<br /> 4,000,000 r0
<br /> in
<br /> N
<br /> N
<br /> cu 3,000,000 IIM r Noeto••d r` b ~^ 07Iit ,Nry O 01Vw[� p1NR� 2,000,000 `�O^' � r T. � _ o0
<br /> C. ,4 r-,_7' ., N O pO -
<br /> rA O O sl., ,.ti 00 rl r M r`
<br /> et cm^�0) N N N N '~ O M~=O 1A
<br /> O `00 ; = O O 00
<br /> C _ ii) i0 Nr ..7 "
<br /> ' '1 '4 N %N O NN %
<br /> 1,000,000 00"v, -- _ 1II
<br /> o:a '"` 71O�- _ v _ _ B—©,
<br /> 0 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004
<br /> ■Bulk Warehouse 11Office Warehouse 0 Office Showroom
<br /> 6 NAIOP 2004 ANNUAL INDUSTRIAL MARKET UPDATE
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